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Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail
Assumable Loan
Assumable · FHA
Assumable Loan + Second
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$225,347$225,347$314,550
Remaining term (yrs)24.124.130.0
Secondary amount$0$89,203$0
Funding fee$0$0$0
Note rate2.83%2.83%7.18%
Blended rate3.68%5.189%7.42%
1st payment$1,073.71$1,073.71$2,130.87
2nd payment$0.00$669.03$0.00
Taxes / mo$132.83$132.83$132.83
Insurance / mo$150.00$150.00$150.00
MI / mo$184.38$184.38$62.91
HOA / mo$62.00$62.00$62.00
Total monthly$1,602.93$2,271.95$2,538.61
Cash to close$124,153$34,950$34,950